Pharmacy Revenue Helps Boost CVS Caremark's Earnings More Than 12%

CVS Caremark's results were boosted by pharmacy revenue at its established drugstores, which grew 6.8% during the quarter.

Shares of CVS Caremark are climbing after the drugstore and pharmacy chain reported fourth-quarter earnings that climbed more than 12%. The company said results were boosted by pharmacy revenue at its established drugstores, which grew 6.8% during the quarter. CVS managed to fill 3.8% more prescriptions and sell more generic drugs despite processing fewer network claims and seeing a decline in store traffic. Overall, revenue in the period rose 4.6% to about $32.8 billion, beating analyst forecasts of about $32.6 billion, according to Thomson Reuters.

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